“We are always looking for acquisition opportunities, so that’s factored into the CEO search and the strategy we’ve got at the moment," REA chairman
Hamish McLennan
said.

“We will be bringing a new CEO on board with a view that they appreciate, understand and have a diverse skill set to be able look offshore as well as onshore, and to manage the business."

The company is considering external candidates from technology and real estate companies around the world, while the leading internal candidates are chief product officer Henry Ruiz and general manager of sales and operations, Arthur Charlaftis.

Mr Ellis, who is leaving the company to join German real estate business Scout24, told The Australian Financial Review that he would remain with REA for as long as the board required in its search for a replacement.

“I’m definitely here until the board says I shouldn’t be," he said.

The resurgent property market helped
REA
deliver net profit growth of 37 per cent to $70.7 million for the six months ended December 31, compared with the previous correspondingperiod.